Page 2 - External Commercial Borrowings

L&T Finance plans to increase short term, ECB fundraise in FY25

Company aims for strategic adjustments to benefit from the anticipated softening of interest rates

HDFC Credila raises $100 million via ECB to diversify funding resources

HDFC Credila, an erstwhile subsidiary of HDFC Limited (now HDFC Bank), focuses on the education loans business

The 'stable' run for the rupee to continue

Reserve Bank of India will have to continue to monitor the movements and be nimble to spot volatility in both directions and intervene selectively to reduce excess noise

L&T board approves a proposal to raise funds worth Rs 7,500 crore

L&T added, these funds would be raised in the form of external commercial borrowings, term loans, non-convertible debentures, or any other instrument as may be appropriate

8 NBFCs to raise $2 bn through ECB after positive outlook for Indian firms

Overseas borrowing by Indian corporates and high-rated non-banking financial companies (NBFCs) is likely to grow as hedging costs are low and there is a softening bias of global interest rates

ECB registration declines for the first time in FY24: RBI monthly bulletin

External commercial borrowing (ECB) refers to the borrowing of funds by Indian companies from foreign sources in the form of loans, bonds, or other financial instruments

Spandana Sphoorty Financial raises $20 mn via ECB to fund business growth

Micro finance firm Spandana Sphoorty Financial Limited on Thursday said it raised USD 20 million from External Commercial Borrowings (ECBs) to fund business growth. The company has raised External Commercial Borrowings of USD 20 million with a tenure of 36 months, Spandana Sphoorty Financial said in a regulatory filing. Last year, RBI had imposed a monetary penalty on Spandana Sphoorty for the company's failure to adhere to pricing of credit guidelines for Non-Banking Financial Company-Micro Finance Institutions. In furtherance to the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the RBI directions, the RBI had said.

External commercial borrowing of India Inc may stay muted in FY23

Approvals may be $30-35 bn in FY23, says ICRA

CreditAccess Grameen to raise Rs 15 crore via ECBs, says MD Udaya Kumar

Additionally, its public issue of non-convertible debentures (NCDs) worth up to 5 billion Indian rupees ($61.4 million) will launch on Nov. 14

Reliance Industries, Jio in talks to raise funds through foreign loans

The loans, which are likely to have a five-year term, are anticipated to be priced 130-150 basis points higher than the Secured Overnight Financing Rate (SOFR), a benchmark rate used around the world

India Inc's foreign commercial borrowings rise by 4.6% in Aug: RBI data

India Inc's foreign commercial borrowings in August this year rose by nearly 4.6 per cent to USD 2.98 billion, according to the RBI data. In August 2021, the Indian businesses borrowed USD 2.85 billion in the form of external commercial borrowings. Of the total borrowings in August this year, over USD 2.47 billion was through the automatic route of raising funds from foreign sources. While more than USD 502.79 million was raised by way of issuing rupee denominated bonds (RDBs) or masala bonds. Among the major borrowers include mortgage lender HDFC Ltd USD 1.1 billion for the purpose of sub-lending; FS India Solar Ventures USD 500 million for a new project; Fullerton India Credit Co Ltd USD 350 million for sub-lending and Toyota Financial Services USD 50 million for refinancing of Rupee loans. Among others, IIFL Finance raised USD 50 million for refinancing of earlier ECB; Tata Sia Airlines raised USD 36 million for import of capital goods; Flender Drvies USD 31.37 million for worki

India Inc braces for impact of rupee fall, rushes to take forward cover

In the short and medium term, chief financial officers are advising companies to take the right kind of derivatives products depending on their exposure

Despite 22% jump in 3 months, analysts see more upside in Nifty PSB index

Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union Bank of India soared between 21 per cent and 34 per cent during the period

ReNew Power raises $1 billion through ECB for battery-enabled project

Gurgaon-based ReNew Power has raised a $1-billion project loan through external commercial borrowings, tying up with 12 international banks for the finance.

HDFC Ltd secures $1.1 bn syndicated social loan for affordable housing

This transaction is the largest social loan globally, the first social external commercial borrowing (ECB) loan out of India and the largest ECB loan deal from a HFC or private NBFC in India

HDFC Ltd net profit surges 22% YoY to Rs 3,668 crore in June quarter

It looks to raise $1.1 billion in external commercial borrowing

Bulk of India Inc's overseas debt is hedged: RBI governor Shaktikanta Das

Comments follow huge pressure on ruper versus the dollar due to record outflows from domestic equity markets amid elevated commodity prices and higher US interest rates

How the RBI is creating conditions for foreign flows to come back to India

The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment to attract dollars through banking deposits, ECB, FPI

Unhedged exposure via external commercial borrowing new threat to rupee

According to RBI data on external debt released, short-term debt on a residual maturity basis accounted for 44.1% of foreign exchange reserves at the end of March 2022

ECB inflows to moderate on rising rates, depreciating rupee: Bank of Baroda

External Commercial Borrowings (ECBs) accounted for 36.8% of India's external debt as of the end of December 2021